Marketing To Like-Minded Clients Are you a female or minority entrepreneur looking to appeal to like-minded businesses? Read on to find out how you can make the most of this relationship.
By Julia Miller
Opinions expressed by Entrepreneur contributors are their own.
In the world of marketing it's all about relationships,especially if you're a woman or minority entrepreneur aimingyour business at female and minority clients.
"Females in particular readily seek out the advice ofprofessional peers and place a higher value on customerservice," says Joan Steltman, a market development executivein charge of IBM's women-owned business Web site and an experton relationship marketing.
Steltman adds that in order for women and minorities tosuccessfully market to their peer groups, it's important tobuild both client and peer alliances through the following:
- Focus on building strong customer relationships. Goodbusiness relationships are fostered by good personal relationships.Stay in close touch with customers regarding their order status,and send thank-yous and satisfaction surveys. Create customerretention programs, and encourage word-of-mouth referrals.
- Use a collaborative approach with peers. Share customerleads with noncompetitive business owners. Steltman says thatwomen- and minority-owned businesses are especially good at sharingthe wealth--so good, they often band together to bid on largercontracts they might not be able to handle on their own. Thisability to work together is the mark of a savvy entrepreneur keenon long-term growth.
- Network with peers and clients. Become part of yourlocal business community, and leverage those contacts you meet atprofessional meetings and chamber of commerce affairs. Joinassociations that offer education, professional resources andmember benefits.
- Leverage technology for success. Small businesses ownedby women and minorities are more likely than white, male-owned tohave Internet access, conduct both business and personal researchonline, and purchase goods and services online, according to Dun&Bradstreet's 19th Small Business Survey. Andaccording to the National Foundation of Women Business Owners,women are also more likely to create a Web presence for theirbusinesses--23 percent of female business owners have Web sitescompared to 16 percent of male business owners. Given these onlinestats, you should both share ideas about new technology with peersand use your site to communicate with customers through your ownfeedback surveys.
Julia Miller is a Los Angeles-based writer who specializes inbusiness and marketing. She can be reached at juliam129@aol.com.
